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A proven benchmark for developers, consultants, appraisers, operators, lenders, and brands. The Boutique Hotel Report 2024 is available at https://lnkd.in/gbgUCqi9 The report cost is $695. The Boutique Hotel Report 2024 segments hotels into independent, lifestyle and soft brand categories and provides detailed information including: •Definition of lifestyle, soft brand collections and independent boutique hotels •Revenues by class in 2023 compared to US hotels •Operating performance by class for each boutique segment including occupancy, ADR, supply, and demand from 2016 through 2023 •Detail of room distribution by property size, class, and, where applicable, parent company •Change in US market share from 2010 by segment •Distribution analysis throughout the 100 largest MSA’s indicating opportunity for boutique hotel development •Three aggregate “HOST” style statements of 2022 income and expense for each segment. Our Mid-Year Boutique Report will present 2023 calendar year data. •Two aggregate “HOST” style statements of 2023 income and expense for boutique hotels with rooftop bars and high F&B revenues We extend much gratitude to our generous sponsors and STR/CoStar for their willingness to make this report possible. #boutiquehotels #highlandgroup

A proven benchmark for developers, consultants, appraisers, operators, lenders, and brands. The Boutique Hotel Report 2024 is available at https://lnkd.in/gbgUCqi9 The report cost is $695. The Boutique Hotel Report 2024 segments hotels into independent, lifestyle and soft brand categories and provides detailed information including: •Definition of lifestyle, soft brand collections and independent boutique hotels •Revenues by class in 2023 compared to US hotels •Operating performance by class for each boutique segment including occupancy, ADR, supply, and demand from 2016 through 2023 •Detail of room distribution by property size, class, and, where applicable, parent company •Change in US market share from 2010 by segment •Distribution analysis throughout the 100 largest MSA’s indicating opportunity for boutique hotel development •Three aggregate “HOST” style statements of 2022 income and expense for each segment. Our Mid-Year Boutique Report will present 2023 calendar year data. •Two aggregate “HOST” style statements of 2023 income and expense for boutique hotels with rooftop bars and high F&B revenues We extend much gratitude to our generous sponsors and STR/CoStar for their willingness to make this report possible. #boutiquehotels #highlandgroup

At 𝑱29 𝑪𝒓𝒆𝒂𝒕𝒊𝒗𝒆 𝑮𝒓𝒐𝒖𝒑 we enjoy having and giving 5-star, luxury experiences to our customers! It's always a work in progress as we continue to strive toward expanding and through growth by bettering ourselves, our systems, our processes, and our level of service. Even if one reaches the pinnacle, one must fight to maintain it. Whether you are a restaurant, hotel, or small local business, everyone wants a 5-star rating. When thinking about this concept, I realized that 𝓲𝓽'𝓼 𝓽𝓱𝓮 𝓭𝓮𝓽𝓪𝓲𝓵𝓼 that make or break the experiences that people have when partaking of a product or service. You may not even remember the drink you were served down the road, but you will always remember the way you were served the drink. So, what gives a 5-star hotel it's 5-star rating? I just had to find out. Turns out, Five-star hotels are properties that offer their guests the highest levels of luxury through personalized services, a vast range of amenities, and sophisticated accommodations. Though there is no standard rating system for hotels, properties earn 5-star distinction by providing guests experiences that meet or exceed even the highest of expectations for comfort, décor, and luxury. (Full article: https://lnkd.in/dAMqiSxq) They rate a hotel based on its level of offerings, amenities, services, and comfort. What more can I say? We will continue to strive toward this mark. We love what we do and we love who we do it with! Want a 5-star, quality experience? 𝑱29 𝑪𝒓𝒆𝒂𝒕𝒊𝒗𝒆 𝑮𝒓𝒐𝒖𝒑 www.j29creative.com #marketingagency #customerservice #kcmo

"I had to succeed or I'd lose everything." -Isadore "Issy" Sharp His determination and belief in his business model fueled the creation of a hotel empire, Four Seasons Hotels and Resorts. Sharp’s first foray into the hotel industry began when he helped build a 14-room motel on the outskirts of Toronto. Seeing its success sparked an idea: what if he could combine the convenience of a motel with the luxury of downtown hotels? Working in construction by day, Sharp refined this hotel-motel concept as a side project. His persistence paid off when he secured financing for his first Four Seasons in 1958, which opened in 1961 with 125 rooms and quickly became a celebrated success. From his experiences, he developed four key strategic decisions that formed the four pillars of the business model: 𝟭. 𝗤𝘂𝗮𝗹𝗶𝘁𝘆 "If quality is your edge, you can't compromise it." ↳ Focus on delivering quality in every aspect of service, never compromising for expansion or short-term gains. 𝟮. 𝗦𝗲𝗿𝘃𝗶𝗰𝗲 "I'm only shooting for the top. I'm going to charge more money than anybody else has, but the customer will get value for that." ↳ Provide unparalleled service that exceeds guest expectations at every turn. Customers will gladly pay for top-tier luxury. 𝟯. 𝗖𝘂𝗹𝘁𝘂𝗿𝗲 "We are only what we do, not what we say we are." ↳ A company's true identity is defined by its actions and the value it delivers, rather than its proclamations. 𝟰. 𝗕𝗿𝗮𝗻𝗱 "Create a group of the best hotels in the world. And what we really want to do is usually what we do best." ↳ Concentrate on a niche market and creating innovative products rather than competing in a saturated market. Today, Four Seasons Hotels and Resorts manages over 100 high-end properties, including the Hotel London at Park Lane, Hotel George V (Paris, France), and Four Seasons Resort Bora Bora. Want to learn more about Isadore Sharp and Four Seasons? I recommend you check out Sharp’s book, Four Seasons: The Story of a Business Philosophy. What do you think of Isadore Sharp's approach? Share your thoughts in the comments. 💬 #HospitalityIndustry #GuestExperience #Leadership #FourSeasons #ServiceExcellence HotelTechReport.com | The Leading Authority on Hotel Technology Follow me for more hotel software and technology insights.

At 𝑱29 𝑪𝒓𝒆𝒂𝒕𝒊𝒗𝒆 𝑮𝒓𝒐𝒖𝒑 we enjoy having and giving 5-star, luxury experiences to our customers! It's always a work in progress as we continue to strive toward expanding and through growth by bettering ourselves, our systems, our processes, and our level of service. Even if one reaches the pinnacle, one must fight to maintain it. Whether you are a restaurant, hotel, or small local business, everyone wants a 5-star rating. When thinking about this concept, I realized that 𝓲𝓽'𝓼 𝓽𝓱𝓮 𝓭𝓮𝓽𝓪𝓲𝓵𝓼 that make or break the experiences that people have when partaking of a product or service. You may not even remember the drink you were served down the road, but you will always remember the way you were served the drink. So, what gives a 5-star hotel it's 5-star rating? I just had to find out. Turns out, Five-star hotels are properties that offer their guests the highest levels of luxury through personalized services, a vast range of amenities, and sophisticated accommodations. Though there is no standard rating system for hotels, properties earn 5-star distinction by providing guests experiences that meet or exceed even the highest of expectations for comfort, décor, and luxury. (Full article: https://lnkd.in/dAMqiSxq) They rate a hotel based on its level of offerings, amenities, services, and comfort. What more can I say? We will continue to strive toward this mark. We love what we do and we love who we do it with! Want a 5-star, quality experience? 𝑱29 𝑪𝒓𝒆𝒂𝒕𝒊𝒗𝒆 𝑮𝒓𝒐𝒖𝒑 #marketingagency #customerservice #kcmo

"Hotels in WA Sold for $10M by Marcus & Millichap" Read the full article below..

At 𝑱29 𝑪𝒓𝒆𝒂𝒕𝒊𝒗𝒆 𝑮𝒓𝒐𝒖𝒑 we enjoy having and giving 5-star, luxury experiences to our customers! It's always a work in progress as we continue to strive toward expanding and through growth by bettering ourselves, our systems, our processes, and our level of service. Even if one reaches the pinnacle, one must fight to maintain it. Whether you are a restaurant, hotel, or small local business, everyone wants a 5-star rating. When thinking about this concept, I realized that 𝓲𝓽'𝓼 𝓽𝓱𝓮 𝓭𝓮𝓽𝓪𝓲𝓵𝓼 that make or break the experiences that people have when partaking of a product or service. You may not even remember the drink you were served down the road, but you will always remember the way you were served the drink. So, what gives a 5-star hotel it's 5-star rating? I just had to find out. Turns out, Five-star hotels are properties that offer their guests the highest levels of luxury through personalized services, a vast range of amenities, and sophisticated accommodations. Though there is no standard rating system for hotels, properties earn 5-star distinction by providing guests experiences that meet or exceed even the highest of expectations for comfort, décor, and luxury. (Full article: https://lnkd.in/dAMqiSxq) They rate a hotel based on its level of offerings, amenities, services, and comfort. What more can I say? We will continue to strive toward this mark. We love what we do and we love who we do it with! Want a 5-star, quality experience? 𝑱29 𝑪𝒓𝒆𝒂𝒕𝒊𝒗𝒆 𝑮𝒓𝒐𝒖𝒑 www.j29creative.com #marketingagency #customerservice #kcmo

The story of Isador “Issy” Sharp and The Four Seasons Hotel is one of entrepreneurship, dedication to quality, customer service, dogged persistence, hard work, community-building, and vision. It was a pleasure finally to pull "Four Seasons: The Story of a Business Philosophy," written in 2009, from my bookshelf and read it. Issy became a world-renowned hotel manager almost by happenstance, for he started life as a builder. Then, one day, Issy was hired as the general contractor to build a motel for a friend. That led to another larger hotel project in Toronto and another in London. After this serendipitous beginning, the builder decided it was better to become a hotel manager than a builder—but not just any hotel manager. “We will specialize. We will offer only midsize hotels of exceptional quality, hotels that will be recognized as the best wherever they are located,” writes Sharp of his decision at the time. All the “industry experts” said, “Look at Westin, Marriott, Sheraton. They’ve got hotels in the three-, four-, and five-star categories, and look how well they are doing.” Issy Sharp’s resistance to this pressure began an effective counter-positioning for The Four Seasons. The Four Seasons became the first hotel chain in the U.S. to focus exclusively on the top end of the market. Stories from the book about The Four Seasons in Washington D.C. in the early days reveal examples of how. Here, The Four Seasons introduced the notion of “concierge service” to North American hotels—a service that became so famous that a booklet was written about it. The booklet described “a [Four Seasons] concierge as a combination of personal secretary, aide-de-camp, tour guide, travel agent, social director, best friend, and flat-out miracle worker at the service of every guest in the hotel.” How does The Four Seasons team tactically and reliably deliver such service at scale? Compiling a team of extraordinary people who rally behind shared values. As Sharp writes, “We didn’t want people who thought serving others was demeaning- we wanted people with high self-esteem. Not people who said in a crisis, ‘That’s not my job,’ but people who’d say, ‘How can I help?’ People who would never answer a customer’s question by saying, ‘I don’t know,’ but rather, ‘I’ll find out.'” Amen. There's perhaps no better example of Issy’s founding declaration for The Four Seasons, “service was to be our winning strategy,” than that. 

The leading headline about hotel transaction volume continues to be year-over-year declines, yet some areas are more active than others. East Coast locations led the charge, and Miami achieved the number one spot. Some of the top sales volume locations were primarily attributed to one large transaction. During the first quarter of 2024, $3.4 billion in disclosed transactions occurred in the US, although estimating undisclosed prices it was $4 billion. Some hotels are in non-disclosure states and, therefore, may not be represented. The top 10 highest destinations represent 44% of the total volume. In Miami, the 423-room luxury class, The Ritz-Carlton Key Biscayne Miami, sold in January for $400 million, or $1.4 million per key. Brookfield has sold its majority interest in the property to Gencom, giving Gencom full ownership of the property. The price and price per key make it the highest hotel transaction in the first quarter. The total price represents nearly 90% of the total sales volume in Miami. In Boston, one single transaction represented the entire first quarter sales volume. The Wyndham Boston Beacon Hill sold for $125 million, or $411,000 per key to RLJ Lodging Trust. In Los Angeles, the sale of the 176-room Residence Inn Los Angeles LAX Manhattan Beach for $68 million, or $386,364 per key, represents over 80% of the first quarter sales volume. Apple Hospitality REIT purchasing the 234-room AC Hotel Washington DC Convention Center for $116.8 million, or $499,145 per key in March, represented nearly 70% of first quarter transaction activity. New York ranked second in the first quarter in hotel sales volume, with eight hotels generating $236 million. The East River-Queens/Brooklyn West area had the highest sales volume in the destination, reaching nearly $94 million among three hotels. One of these was the 104-room Trademark Collection by Wyndham Brooklyn, which was traded in a bankruptcy auction in March for $34.9 million, or $335,398 per key. Atlanta and Denver were the only locations to achieve double-digits in the number of transactions, with Atlanta at 13 hotel transactions and Denver at 10. In Atlanta, only branded hotels sold. Over 70% of the first quarter's $102 million transaction volume came from eight Marriott and Hilton middle-tier class hotels. The transaction prices in this category ranged from $15 million to $21 million, with the price per key ranging from $76,000 to $167,000. The top three highest-priced transactions occurred in the Atlanta airport area. Denver followed a similar trend, with 66% of the $82 million in first quarter volume generated by four middle-tier hotels trading. The remaining 34% was from six economy hotels. Approximately half of the first quarter sales volume was in the Denver Tech Center among three hotels. One included the 180-room Hilton Garden Inn Denver Tech Center in January. Chatham Lodging Trust sold the hotel to Peachtree Hotel Group for $18 million, approximately $100,000 per room.

https://lnkd.in/gXwmmKnA Facts and figures quoted in this article relate to a research done in the hospitality market in the US, however, mutatis mutandis, I suspect similar situations are encountered across cultures and geographies. “Triskaidekaphobia” is the irrational fear of the number 13; a folklore legend to many, a very real fear for many other people. Up to - guess what - 13 percent of respondent to the survey quoted in the Article, said they'd feel uneasy staying on the 13th floor of a hotel and would ask for a different floor. Quite a sizeable percentage of guests if you think through, so that hoteliers usually do away with it by renaming the floor something else, 12B, 14A and the like. "While this seems like a lot of effort, it's good for business to not alienate 13 percent of potential clients. As J.W. Bill Marriott Jr., chairman of Marriott International, said in 2007, "It was one of the first things I learned: Don't go to 13.""